Caltex gets e-fficient

Caltex hopes to save millions by using a Chase Manhattan-developed web-based procurement system.

Mike Mahon is Caltex's general manager in charge of procurement based in Singapore. He sources oil drums, and all the indirect materials needed to store, process and create many of the oil and petroleum products we know today. Caltex has hundreds of suppliers in 55 countries, and spends some $800 million a year on indirect materials. What does Mahon have to do with cash management and treasury Plenty, thanks to the internet.